USDCHF bouncing nicely off support, remain bullish
Buy above 0.9593. Stop loss at 0.9560. Take profit at 0.9671.
Reason for the trading strategy (technically):
Price has dropped and reached our buying level before bouncing up perfectly. We remain bullish above major support at 0.9593 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a push up to at least 0.9671 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is bouncing nicely off our 12% support and has good upside potential.
Reason for the trading strategy (technically):
Price has dropped and reached our buying level before bouncing up perfectly. We remain bullish above major support at 0.9593 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a push up to at least 0.9671 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is bouncing nicely off our 12% support and has good upside potential.